Small Business Revolution. Barry C. McCarthy
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almost impossible to match some of the prices. You know that in some cases your product is superior to the no-name item someone may buy on Amazon, but it's hard for customers to know the difference.
When Washington, DC gets into a trade war with some country, the prices of raw materials can skyrocket. You sometimes see those roller-coaster prices in what you must buy.
On a local level, one or more major employers downsized big time, or closed altogether, sending shockwaves throughout the community.
Whether you have a 100 percent online business or yours is in a physical storefront, you're up against a bunch of competitors who are undercutting your prices or otherwise taking market share.
It's never been easy to start and run a business, but just one of these seismic events can put you out of business, never mind being in a situation where you're dealing with more than one.
I've written this book with these factors in mind. We're going to discuss several ways to counteract these pressures.
The Small Business Revolution
Deluxe has been a household name for generations, and we have been working with small businesses since day one back in 1915. Even so, you may not have heard about the Small Business Revolution.
It started as a marketing project to showcase the power of small businesses in our economy. To celebrate our 100th anniversary, we told the stories of 100 small businesses from across the country some years ago. It's kind of amazing that Deluxe has been around and helping businesses for almost half of America's history. Deluxe hired a brilliant marketer and brand expert, Amanda Brinkman, to create and guide that project. The result is an award-winning, beautifully produced video/television program viewed annually by millions of small business owners like you.
Long story short, we got a great response from the business community about the business lessons presented in a captivating and entertaining format.
You can watch the multiyear series from our website at deluxe.com/sbr and also on Hulu and Amazon Prime Video. If you haven't seen the series, you're in for a treat, if I do say so myself. You get a practical business education with real-world solutions to very real problems faced by a variety of businesses. You also get the benefit of the insights of the series host, our own Amanda Brinkman, and many of the experts she draws upon when constructing solutions for each business.
Not many people know this, but one of the factors that persuaded me to become CEO of Deluxe was my watching some seasons of Small Business Revolution, also known as SBR. I thought that if a corporation could share its 100-plus-year knowledge about business success, then it's a special place full of potential. I knew I wanted to be a part of that team, and I continue to be humbled to lead the Deluxe team and family.
I'm also humble enough to know that I don't personally have all the answers. So even though my name may be on the cover of this book, you should focus on the Deluxe name as the real source of the insights you will find on these pages. I think I'm reasonably good at certain aspects of business, and, as noted earlier, I built two small businesses myself years ago. The collective knowledge presented here draws from the experience of a whole team of specialists working together.
Leader to Leader
I do have another reason for writing this book, and it's to have a discussion with you, one-on-one, as much as can be done in a book.
There's a saying in our Deluxe company culture: “It's not about you.” It's meant to make people with overly big egos stop and realize that they're not the center of the universe and accept the reality that they are part of something much bigger than themselves. That's certainly a message some people need to hear. However, senior leaders on our team have heard me say the opposite, and for a very good reason. I'll say: “It's all about you.”
I don't mean that statement in the egotistical sense, but in the sense that you must step up and be leaders. As a business owner, it really is all about you. When you decide to hire people and therefore build an organization, everyone is looking to you as the owner of the business to chart a course. You need to be inspirational at times and tough at times. People look to you not just to be managed, but to be led.
I can speak from experience that it's very difficult to do. As the business owner, you get to see all the inadequacies of your situation at one time: you need to pay bills, fill open positions, compete with the new shop down the block, and bring in next month's revenues to make payroll.
You need to set prices that are low enough to not drive away your customers, but high enough to keep the doors open. You need to keep an eye on the competition and somehow find a way to keep your customers coming back.
And after long, fitful nights with all these pressures weighing on you, somehow you need to keep your team thinking and acting positively, when that is the last thing you're feeling. Does this ring a bell?
I, too, answered the calling to start and run a small business. I started a painting company in the middle of a recession, because there were no jobs for unskilled young people. Later, I was working in a well-paying safe corporate job at the time, but the urge to build something of my own was just too strong. I took the leap.
And a big leap it was. Talk about an emotional roller-coaster. Over the course of a relatively short period, I felt elation and despair. I was proud at times and at the end of my rope too many times to count. You know what I'm talking about, so I don't have to explain this to you, other than to say that it really can be the best feeling and the worst. And sometimes those feelings can happen on the same day, right?
I sold that business and didn't find another opportunity that I felt strongly enough to create another business around. These days I'm trying to make a difference in a big company. I certainly don't have all the answers, and I have my share of nights with not much sleep leading our global team. But I've learned a few things in my long career, and I will share them with you in this book.
One thing I've discovered: no matter how small your business is, or how large, there are certain surprising similarities. In other words, when you're starting out, you may think that if you eventually become a million-dollar business, or a Fortune 500 business, that you'll have arrived and your major problems will be solved. You'll be on the business equivalent of Easy Street.
That's when I think about Walter Annenberg, a businessman who was so wealthy he gave away more than $2 billion in his lifetime.1 Here's what he had to say about success:
I want to remind you that success in life is based on hard slogging. There will be periods when discouragement is great and upsetting, and the antidote for this is calmness and fortitude and a modest yet firm belief in your competence. Be sure that your priorities are in order so that you can proceed in a logical manner and be ever mindful that nothing will take the place of persistence.
As leaders of businesses large or small, we can meet our challenges by applying hard-learned lessons from others to help us succeed. In this book we're sharing 100 years of our own hard-learned lessons, so you don't have to endure the same pain.
You May Be Thinking This
I'm not surprised that the businesses chosen by Deluxe on SBR did well. If I had Deluxe appear at my door and pay for stuff plus bring a huge team to work with me, I could improve a lot, too.
It may be true that you'd improve much if you were featured on SBR, but that's not the point. Even when we select a small town or neighborhood in a big city, only a handful of businesses get the chance to work directly with us. I agree that it's pretty cool for a business to get chosen, but the coolness does not stop with them.
This book will give you far more than what is in the television series, in two very important